SECAUCUS, N.J., June 10, 2021 (GLOBE NEWSWIRE) — The Youngsters’s Place, Inc. (Nasdaq: PLCE), the biggest pure-play kids’s specialty attire retailer in North America, at the moment introduced that on June 9, 2021 the Firm appointed John A. Frascotti to the Firm’s Board of Administrators. Mr. Frascotti will maintain workplace till the annual assembly of stockholders of the Firm to be held in 2022. Mr. Frascotti is an unbiased director below relevant SEC and Nasdaq guidelines.
Mr. Frascotti is a Particular Advisor to Hasbro, Inc., and served as Hasbro’s President and Chief Working Officer from 2018 till his retirement on March 31, 2021. Mr. Frascotti joined Hasbro in 2008 as Government Vice President and Chief Advertising and marketing Officer, turned President of Hasbro Manufacturers in 2014, and have become President of Hasbro in 2017. In 2018, he was additionally named Chief Working Officer, and have become a member of Hasbro’s Board of Administrators. In these positions, Mr. Frascotti’s intensive experience and management prolonged to model constructing, omni-channel retail methods, digital advertising and marketing, international provide chain administration, investor relations and expertise growth.
Mr. Frascotti additionally served as chairman of Hasbro’s Range and Inclusion Government Steering Committee and of Hasbro’s IP Safety Committee, and as a member of Hasbro’s World Data Methods Steering Committee. Below Mr. Frascotti’s management, Hasbro was acknowledged for 10 consecutive years as one of many “100 Greatest Company Residents”, for 10 consecutive years as one of many “World’s Most Moral Corporations”, and as #9 of the “2019 Prime 50 Greatest ESG Corporations” in recognition of its actions concerning local weather change, sustainability, variety and inclusion, human rights and moral sourcing, and transparency.
Earlier than becoming a member of Hasbro, Mr. Frascotti served in a number of senior govt positions at Reebok Worldwide Ltd. and myteam.com. Mr. Frascotti is a member of the Board of Administrators of Social gathering Metropolis Holdings, Inc. and was a member of the Board of Administrators of Discovery Household Channel, Supreme Industries, Corus Leisure, the Toy Affiliation, and the Hasbro Youngsters’s Fund. Mr. Frascotti obtained his B.A. in Economics from Yale College, the place he graduated Phi Beta Kappa and summa cum laude, and his JD, cum laude, from Harvard Legislation College.
“John is a confirmed chief with an distinctive observe file as a senior govt within the shopper merchandise and retail industries,” stated Norman Matthews, Chairman of the Board. “He brings a broad strategic and operational skillset to The Youngsters’s Place Board. His background, abilities and expertise will strengthen our Board and help the Firm within the quickly altering enterprise surroundings during which we function.”
About The Youngsters’s Place
The Youngsters’s Place is the biggest pure-play kids’s specialty attire retailer in North America. The Firm designs, contracts to fabricate, sells at retail and wholesale, and licenses to promote trendy, high-quality merchandise predominantly at worth costs, primarily below the proprietary “The Youngsters’s Place”, “Place”, “Child Place,” and “Gymboree” model names. As of Could 1, 2021, the Firm had 724 shops in america, Canada and Puerto Rico, on-line shops at www.childrensplace.com and www.gymboree.com, and the Firm’s eight worldwide franchise companions had 213 worldwide factors of distribution in 19 nations.
Ahead Trying Statements
This press launch, comprises or could comprise forward-looking statements made pursuant to the secure harbor provisions of the Non-public Securities Litigation Reform Act of 1995, together with however not restricted to statements referring to the Firm’s strategic initiatives and adjusted web earnings per diluted share. Ahead-looking statements sometimes are recognized by use of phrases akin to “could,” “will,” “ought to,” “plan,” “challenge,” “count on,” “anticipate,” “estimate” and comparable phrases, though some forward-looking statements are expressed in another way. These forward-looking statements are primarily based upon the Firm’s present expectations and assumptions and are topic to numerous dangers and uncertainties that would trigger precise outcomes and efficiency to vary materially. A few of these dangers and uncertainties are described within the Firm’s filings with the Securities and Trade Fee, together with within the “Danger Elements” part of its annual report on Kind 10-Ok for the fiscal 12 months ended January 30, 2021. Included among the many dangers and uncertainties that would trigger precise outcomes and efficiency to vary materially are the chance that the Firm shall be unsuccessful in gauging vogue developments and altering shopper preferences, the dangers ensuing from the extremely aggressive nature of the Firm’s enterprise and its dependence on shopper spending patterns, which can be affected by adjustments in financial circumstances, the dangers associated to the COVID-19 pandemic, together with the influence of the COVID-19 pandemic on our enterprise or the financial system typically (together with decreased buyer site visitors, colleges adopting distant and hybrid studying fashions, closures of companies and different actions inflicting decreased demand for our merchandise and unfavorable impacts on our clients’ spending patterns because of decreased earnings or precise or perceived wealth, and the influence of the CARES Act and different laws associated to the COVID-19 pandemic, and any adjustments to the CARES Act or such different laws), the chance that the Firm’s strategic initiatives to extend gross sales and margin are delayed or don’t lead to anticipated enhancements, the chance of delays, interruptions and disruptions within the Firm’s international provide chain, together with ensuing from COVID-19 or different illness outbreaks, or overseas sources of provide in much less developed nations, extra politically unstable nations, or nations the place distributors fail to adjust to business requirements or moral enterprise practices, together with the usage of compelled, indentured or youngster labor, the chance that the price of uncooked supplies or vitality costs will improve past present expectations or that the Firm is unable to offset price will increase by worth engineering or value will increase, varied sorts of litigation, together with class motion litigations introduced below shopper safety, employment, and privateness and knowledge safety legal guidelines and rules, the imposition of rules affecting the importation of foreign-produced merchandise, together with duties and tariffs, and the uncertainty of climate patterns. Readers are cautioned to not place undue reliance on these forward-looking statements, which communicate solely as of the date they had been made. The Firm undertakes no obligation to launch publicly any revisions to those forward-looking statements which may be made to mirror occasions or circumstances after the date hereof or to mirror the prevalence of unanticipated occasions.